IEA Downgrades Forecast for 2024 Oil-Demand Growth
Headline from Investopedia
The International Energy Agency (IEA) on Friday downgraded its forecast for 2024 oil-demand growth, noting “exceptionally weak” deliveries in OECD countries, a largely complete post-COVID rebound, and increasing market share gains by electric vehicles (EVs), especially in China.
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Global oil demand growth is slowing due to “exceptionally weak” deliveries in developed economies at the start of the year, the International Energy Agency (IEA) said on Friday
The International Energy Agency (IEA) on Friday downgraded its forecast for 2024 oil-demand growth, noting “exceptionally weak” deliveries in OECD countries, a largely complete post-COVID rebound, and increasing market share gains by electric vehicles (EVs), especially in China.
It comes as oil prices rebound on elevated Middle East tensions, with market participants monitoring the prospect of supply disruptions from the region.
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IEA Downgrades Forecast for 2024 Oil-Demand Growth | Since Then
